#钱包社交转型 Farcaster's operation this time is really amazing... After spending 180 million USD on social networking for 5 years, it was ultimately proven by reality that: engaging in pure social networking in crypto is betting on human nature, but developing Wallets is betting on essential needs 💀

Data doesn't lie. At the beginning of 2024, we thought we were taking off with 100,000 DAU, but then it turned around and plummeted back to 60,000, and by the end of the year, it was directly cut in half to less than 20,000. Every number is loudly saying: Brother, you chose the wrong track. On the contrary, the casually added Wallet feature is expanding at an absurd speed; this is the closest thing to PMF we've had in five years.

Now change the route to invest in wallets, acquire Clanker for asset issuance, and use USDC deposit activities to bring back daily active users — this is the reality. It's not that idealism can't do it, but the market simply has no one playing. No matter how rich the imagination is, it can't withstand the deadlock of "self-entertainment within the circle."

The key point is that Dan Romero made it clear: adding social features to wallets is much easier than adding wallets to social platforms. One focuses on content stickiness from a transaction entry point, while the other tries to create a social necessity - the difficulty is not on the same level.

So the narrative of SocialFi is basically dead. It's time to recognize the reality that the primary demand in crypto is trading and asset flow; socializing can only be a sugar coating. Projects that can achieve "content is transaction" will have a chance to survive, while those purely organizing discussion meetings are destined to be marginalized 🎯.